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Business CEOs call for raising retirement age
http://www.krqe.com ^ | Jan. 16, 2013

Posted on 01/17/2013 4:26:52 AM PST by Wolfie

Edited on 01/17/2013 5:34:13 AM PST by Admin Moderator. [history]

WASHINGTON - An influential group of business CEOs is pushing a plan to gradually increase the full retirement age to 70 for both Social Security and Medicare and to partially privatize the health insurance program for older Americans.

The Business Roundtable's plan would protect those 55 and older from cuts but younger workers would face significant changes. The plan unveiled Wednesday would result in smaller annual benefit increases for all Social Security recipients. Initial benefits for wealthy retirees would also be smaller.


(Excerpt) Read more at krqe.com ...


TOPICS: Culture/Society
KEYWORDS: socialsecurity
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To: tnlibertarian

Another case for an FR ‘Like’ button. We put away a goodly percentage in our 401(k)s, but if I had the 12.4% from my and my employer’s ‘contributions’, I would be able to retire easily years ahead of 70 or 67 or 65....Seriously. Take your yearly SS form that tells how much you paid in over the years and use your computer to find how much the S&P 500 went up or down over the years you paid in. Starting with first $150 I paid and the $150 my employer paid in and the resultant increases over the years, until I retired, would have netted me about four million dollars. Of course, the politicians wouldn’t be able to spend MY savings on vote buying schemes.


61 posted on 01/17/2013 6:12:23 AM PST by Safetgiver ( Islam makes barbarism look genteel.)
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To: wtc911
I am taking SS the very first day that I qualify at 62.
That's exactly what I did a few years ago. Give it to me now so I can spend it, not to my survivors.
Your early SS is only taxable if you have income from another source, and the amount of that income is over a base amount (IIRC, $32,000 married, $25,000 single).
62 posted on 01/17/2013 6:12:56 AM PST by oh8eleven (RVN '67-'68)
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To: Wolfie

No problem.

:D


63 posted on 01/17/2013 6:13:01 AM PST by Cringing Negativism Network
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To: elpadre

20 and out retirements in the federal government are long gone UNLESS you start working for the government in your late 40’s then perhaps you could retire after 20. However, you get 1 percent of your salary per year. So you might get around 300 dollars a month for 20 years of work. Most people work 40 or try to to receive 40 percent of their pay to get around 800 dollars a month pension. It is more than what some folks get for sure but it is NOT as good as people believe UNLESS you are REALLY REALLY high up in government which MOST people ARE NOT!


64 posted on 01/17/2013 6:17:59 AM PST by napscoordinator (GOP Candidate 2020 - "Bloomberg 2020 - We vote for whatever crap the GOP puts in front of us.")
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To: autumnraine

The boat is crowded but welcome aboard, anyway.
I registered to vote at 18 in 74 and registered republican.
The reason why = because I had worked since I was 12 and knew I was getting screwed on taxes and that SS would not be there for me when I was 62.

But what they heck. That life under a tyrannical oligarchy


65 posted on 01/17/2013 6:21:13 AM PST by winodog (Thank you Jesus for the calm in my life)
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To: Wolfie

Hey I paid into their corrupted SS system all my working life. I’d like to start receiving the payout benefits come age 65.5 and I can supplement my income with PT work or a side business of sorts. I would rather not be in the daily grind of working full time past that age. Just about 5 decades of paying in when I get there-—


66 posted on 01/17/2013 6:22:09 AM PST by tflabo (Truth or Tyranny)
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To: 2001convSVT
Are young Americans going to sit still for a 70 years old retirement age?

In a word, no. Some Leftist will propose eliminating the income cap on FICA taxes and actually dropping the retirement age slightly. He or she will win in an historic landslide.


67 posted on 01/17/2013 6:22:45 AM PST by Buckeye McFrog
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To: Wolfie

HA, they want the age increased, but they won’t hire anyone over 40. Their words and actions do not mesh.


68 posted on 01/17/2013 6:23:00 AM PST by SengirV
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To: KevinDavis
I’m just sick and tired of liberals like you who blames CEO for all of the problems.
CEOs like Ralph Wilson of the Buffalo Bills? A multimillionaire who took $200 million in taxpayer money in 2005 to redo his stadium, then had the gall to name it after himself.
He also just received an additional $95 million in taxpayer dollars just last month.
Or how about the CEO of Kodak? A multimillionaire retiree from HP, he took over Kodak 10 years ago ... has averaged income about $5 million a year while driving the stock price down from about $30 to less than 20 cents.
He's also laid off over 50,000, eliminated paying for ALL retiree's benefits, and will get a multimillion dollar BONUS if Kodak gets out of bankruptcy.
And those are just two shameless, greedy b@stards in my neck of the woods.
69 posted on 01/17/2013 6:27:24 AM PST by oh8eleven (RVN '67-'68)
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To: winodog

I am surprised the feds are not offering buyouts with all the trillions they are spending.

It would pump a heck of a lot of money into America


70 posted on 01/17/2013 6:28:33 AM PST by winodog (Thank you Jesus for the calm in my life)
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To: Wolfie

Lower the Social Security tax to 3-4% with no upper income limit.


71 posted on 01/17/2013 6:30:15 AM PST by SueRae (It isn't over. In God We Trust.)
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To: sickoflibs
all well and good for the desk sitters and the phone talkers...but when you do really hard work...physical, emotional, mentally draining work, 70 is ridiculous...

let the teachers and the bankers and the secretaries work till 70...

in principle I agree with postponing retirement, but lets do it for the military and all the govt jobs....

no one should be collecting anything before age 60 minimum....

and I think we should index....pay everyone who has paid into SS everything they paid in, but then INDEX it all to your other govt pensions....so those $100,000 a yr govt retirees will at least not be raking in any more....its obscene and insane as it is....

72 posted on 01/17/2013 6:30:27 AM PST by cherry
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To: Ann Archy
ANY person that retires with a GOVT. PENSION should NOT be allowed to get that UNTIL they reach the SS Retirement AGE!!!

My friend she worked for the SS Dept. for 30 years. Recently retired at age 60 and collecting 80% of her highest salary in Govt. pension payouts. Good for her but bad for American taxpayers.

73 posted on 01/17/2013 6:30:32 AM PST by tflabo (Truth or Tyranny)
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To: oh8eleven

Ralph Wilson owns Buffalo’s stadium? I thought it was owned by Erie County and just leased by the Bills?


74 posted on 01/17/2013 6:34:02 AM PST by martiangohome
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To: yldstrk

what kind of work did your parents do?.....working primary care nurse in a extremely busy acute care hospital is not a job most 40 yrs old could handle let alone a 65 yro.


75 posted on 01/17/2013 6:34:32 AM PST by cherry
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To: oh8eleven

The degree to which these CEO’s are actually playing into the stereotype of them the Left is circulating is indeed a frightening, vexing problem.


76 posted on 01/17/2013 6:37:38 AM PST by Buckeye McFrog
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To: oh8eleven
Good for you.

I'm a landlord with good income. I have a small film production company that generates revenue. My wife is a six-figure person so I will have to pay taxes. But, I'm putting myself on the SS payroll before they cut it down or off. I will invest the net and make it work for me.

77 posted on 01/17/2013 6:55:31 AM PST by wtc911 (Amigo - you've been had.)
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To: SueRae; Cringing Negativism Network
Lower the Social Security tax to 3-4% with no upper income limit.

Gee, I wonder why a group of CEO's wouldn't have recommended that? Puzzling.

78 posted on 01/17/2013 6:57:33 AM PST by Wolfie
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To: Ann Archy
ditto ditto ditto....no govt retirement until at least age 60....and all govt pensions indexed against each other....

why these dumb arse CEO's would want to further destroy the private sector worker while not saying a word about the INSANE and OBSCENE govt pensions starting at after working just 20 yrs for many is very suspect...

79 posted on 01/17/2013 6:58:29 AM PST by cherry
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To: oh8eleven
That's exactly what I did a few years ago. Give it to me now so I can spend it, not to my survivors.

To that point, does anyone cringe when they hear advertisements from supposed "Social Security Advisors," who tout strategies to "maximize" your SS benefits? That's the last thing we need right now...people not only being entitled to benefits we can't pay out, but they're maximizing the amount that we can't afford!

I only linked to your post because some "advisors" would suggest that many people wait to apply...for maximum benefis.

80 posted on 01/17/2013 7:01:01 AM PST by Lou L (Health "insurance" is NOT the same as health "care")
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